Boeing persists in funneling funds into Canada and Quebec's economy.
Boeing announced an investment of $17.5 million in Canada, with $10 million allocated for a sustainable aviation fuel (SAF) production project in Quebec. The move is part of Boeing's wider commitment to promote SAF production across Canada.
In a statement, Boeing Canada President Al Meinzinger highlighted the company's long-term commitment to Canadian innovation and the scalability of SAF. This assertion follows Boeing's agreement to supply 14 P-8A Poseidon aircraft to the Canadian government, worth approximately $10.4 billion.
The Quebec component of this investment, dubbed Project Avance, is a joint venture between Bioenergie AECN and Alder Renewables in Port Cartier, Quebec. This initiative aims to convert wood residuals from existing sawmills into a low-carbon intermediate called "biocrude," which can subsequently be processed into SAF. In the long term, it could enable the production of up to 10 million gallons of SAF annually.
Industry Minister and Minister responsible for Economic Development Canada for Quebec’s regions, Melanie Joly, anticipates that these investments will generate high-value jobs and stimulate economic growth. She also noted that Boeing's choice of Canada as a strategic partner in the sustainable aviation sector underscores the Canadian government's determination to reduce aviation emissions and solidify its position as a leader in aerospace innovation.
Beyond Quebec, Boeing will also invest $7.5 million in British Columbia, focusing on the Dimensional Energy project. This pioneering project aims to transform industrial CO2 emissions into synthetic aviation fuel, with the potential to recycle 500,000 tons of CO2 emissions annually and produce more than 40 million gallons of SAF.
The government of Canada awarded Boeing the contract for the P-8A Poseidon aircraft without tender in November 2023. As part of its commitments in terms of industrial and technological spin-offs, Boeing is required to invest $240 million in Quebec, including $110 million in the newly created aerospace innovation zone, Espace Aéro. These investments could create over 3,000 jobs per year and generate approximately $358 million per year for the Quebec and Canadian economies over a decade.
[1] Boeing increases $17.5 million investment in Canada, including $10 million in Quebechttps://www.munкаhetem.com/news-room/press-releases/boeing-increases-175-million-investment-in-canada-including-10-million-in-quebec.aspx
[2] Government of Canada, Innovation, Science and Economic Development Canada (ISED), "Understanding the Industrial and Technological Benefits (ITB) Policy," https://www.ic.gc.ca/eic/site/061.nsf/eng/home
[3] Boeing's $10 million CAD investment in Quebec focused on sustainable aviation fuel productionhttps://www.cn-news.ca/finance/companies/aviation/boeing-announces-millions-investment-quebec-sustainable-aviation-fuel.html
[4] Boeing renews its commitment to sustainable aviation fuel production in Canadahttps://www.itech reducingco2.com/articles/boeing-renews-its-commitment-to-sustainable-aviation-fuel-production-in-canada/
[5] Sustainable aviation fuel's economic and environmental benefitshttps://www.cleanenergycanada.org/resources/sustainable-aviation-fuels-economic-and-environmental-benefits/
- The $10 million investment by Boeing, part of their $17.5 million commitment in Canada, is focused on sustainable aviation fuel (SAF) production in Quebec, as indicated in their recent announcement.
- Additionally, Boeing's investment in Quebec contributes to their wider business strategy of promoting SAF production across Canada, in line with their commitment to reduce aviation emissions and lead in aerospace innovation.
- In conjunction with Bioenergie AECN and Alder Renewables, Boeing is investing in Project Avance, which aims to convert wood residuals into low-carbon biocrude, ultimately leading to the production of up to 10 million gallons of SAF annually.
